Chris Liss on Nostr: in that case — maybe not real. I mean there is *some* concern with MSTR and the ...
in that case — maybe not real. I mean there is *some* concern with MSTR and the ETFs even. Those are well regulated, large institutions, but so was Enron. Same with coins on exchanges — have they done proof of reserves?
I guess it’s a fine line between convenient custody with counterparty risk and not removing it (for sure) from the supply.
And the big risk of self-custody (losing the keys) is actually the opposite of rehypothetication.
But large institutions are the preferred custody model for many, and I’m fine with that, though proof of reserves should be required the way banks are required to own treasuries.
I guess it’s a fine line between convenient custody with counterparty risk and not removing it (for sure) from the supply.
And the big risk of self-custody (losing the keys) is actually the opposite of rehypothetication.
But large institutions are the preferred custody model for many, and I’m fine with that, though proof of reserves should be required the way banks are required to own treasuries.